We’re hearing a lot about vaccination rates these days, but when it comes to inflation, there’s no such thing as herd immunity. Sure enough, as our economy continues to recover from the COVID shutdown, we’re seeing a spike in the Consumer Price Index (CPI), a leading indicator of inflation, and a sign that rising interest rates may be on the horizon.
As COVID restrictions have eased up in some states over the past two weeks, the number of homes going into contract has been trending upward in many markets. A few highlights:
There has been a notable uptick in regions that have lifted restrictions.
Inventory levels remain low in many areas where restrictions have not been lifted.
Compass can provide you with real-time data so you can see activity as it’s happening!
Many first-time homebuyers have unrealistic expectations of what “affordable” means for them, especially in Silicon Valley. Unless you have an unlimited budget, it might make sense to start with a smaller home and build equity toward a bigger purchase later. And take advantage of all the government assistance and financing options available.
I’m a big believer in the power of technology. We have the tools to mass-produce prefabricated homes in factories faster and cheaper than building on site. But red tape gets in the way in the form of land use, zoning, and delays with inspections and paperwork. We won’t solve this problem until government works at the speed of business.
Single family home sales in both Santa Clara and San Mateo Counties dipped a bit month-over-month in July. But inventory, days on the market, and median sales prices are still much stronger than one year ago.
943 Larkspur Ave
Sunnyvale, CA 94086
3 Beds | 2 Baths | 1,533 sqft | $1.798M
Open House - Sat 8/21 1:30-4:30pm
1248 Brenton Ave
San José, CA 95129
4 Beds | 2.5 Baths | 1,798 sqft | $2.098M
Open House - Sat 8/21 1:30-4:30pm
369 Blackwell Dr
Los Gatos, CA 95032
3 Beds | 2.5 Baths | 2,541 sqft | $2.485M
Open House - Sat 8/21 1:30-4:00pm
